Munich Re’s annual general meeting has approved a dividend of €20 per share for the 2024 financial year, reflecting a record-breaking net result of €5.7 billion and strong performance across the group.
The dividend represents a significant increase from €15 in the previous year, with a total payout of approximately €2.6 billion.
Chair of the board of management Joachim Wenning hailed the company’s performance as a milestone within its five-year strategic plan, Ambition 2025.
“Ending the 2024 financial year with a record-breaking net result of €5.7 billion, we outperformed the previous year by around €1 billion,” Wenning told shareholders. “This financial success is the fruit of our strict focus on performance, growth, and earnings stability.”
Addressing the company’s trajectory, Wenning said Munich Re is currently “leading the competition” and projected further earnings growth in 2025, targeting a €6 billion net result. If achieved, this would more than double the company's profit compared to the first year of the Ambition 2025 programme.
He underscored that Munich Re has not yet reached its ceiling, pointing to both organic and inorganic growth—including the recently announced acquisition of NEXT Insurance—as key enablers of continued expansion. He also signalled openness to further acquisitions, especially in Global Specialty Insurance.
While optimistic about Munich Re’s outlook, Wenning voiced concern over broader political and economic headwinds facing Europe and Germany. He warned that weakening defence policy, immigration pressures, outdated infrastructure, and an excessive focus on redistribution were eroding Europe’s global competitiveness.
“The corporate sector is no longer immune to political events,” he said. “Germany and Europe must urgently shift from redistribution to performance-focused policies—even if that means citizens will need to make concessions.”
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